- Putnam is a serial scamster who has more than 118 website domains registered under his name.
- He is also the mastermind behind many successful MLM scams such as USI Tech, Eyeline Trading etc.
It’s no secret that the crypto industry has been plagued by a number of ponzi schemes and MLM scams over the past few years. For example, a number of our readers may remember the name ‘USI Tech’ — a crypto investment firm that offered its customers with insane returns in exchange for minimal monetary inputs.
In its core essence, the company ran a ponzi scheme wherein it payed off its older members using the earnings incurred from newer recruits.
However, the company soon became entangled with law enforcement agencies around the world — with authorities in the United States, Canada and New Zealand issuing “cease and desist orders” against the firm as soon as they realized what was going on. Not only that, a few months later, tens of millions of dollars mysteriously vanished from the company’s coffers.
This, however, was not where the USI saga ends because soon after this entire scandal came to light, the firm’s executive brass simply rebranded their operations and started working under a new name called “Eyeline Trading”.
More on the Matter
In regards to the case, a number of USI Tech’s victims have come forward in recent times and told media outlets about their heartbreaking stories. For example, a security guard from Tel-Aviv claims that he lost around $147,000 of his life earnings to the people running USI Tech and Eyeline.
“I lost all my life; I can’t recover from this. I don’t have any kind of a future.”
At this point in the article, we should mention that some of the core people associated with this scam include people like Dan Putnam, Lee Oakey, Kerry Stockton, Rodney Burton and Michael Faust.
All of these individuals have in one way or the other been associated with USI’s recruitment process and have helped rope in millions of dollars for the scam in question.
How Did the USI and Eyeline Ponzi Schemes Work?
Similar to one another, both firms claimed to help make investors outrageous profits — that could go as high as 0.66 percent a day. Not only that, there were also detailed brochures being given out which claimed to turn a $1,000 investment into $11,000 over the course of a year.
However, even the Eyeline scam did not last too long since the British Columbia Securities Commission in Canada put the firm on its ‘caution list’ after they caught wind that it was just a rehashed version of the USI Tech scheme.
One would think that things would finally come to a halt after all this insanity, but no, soon after, a firm called “Wealthboss” emerged in January 2019 to take over the mantle from Eyeline Trading.
A Detailed Look at the People Behind This Insanity
Lee Oakey, one of the key people behind this MLM scheme hails from the United Kingdom. As per several fb posts, he has been quoted as saying that USI tech was an amazing business that could help regular people make millions of dollars in no time.
Similarly, Kerry Stockton, who also is a citizen of the UK is allegedly in a relationship with Oakey — with the couple living together in Australia.
Rodney Burton — who is more commonly known as “Bitcoin Rodney” — is also well known for flaunting his “illegally procured wealth”. For example, in the past, he has posted a number of articles online claiming that he was able to buy himself a $350,000 Lamborghini using the money he earned through USI Tech.
With all that out there, it seems as though the main man behind this entire craziness is Dan Putnam — a ponzi operator who in the past has posted a number of promotional YouTube videos claiming to help people make a lot of money. In this regard, Putnam has boasted that he can make a “mere $40 investment grow to $10 million in just 18 months”.
A Closer Look at Putnam and his Shady Past
When examining Putnam’s past, we can see that R&D Global is registered as a “limited liability company in Utah under the name of Richard Theodore Putnam”. Additionally, Putnam’s historical records show that he is a specialist in creating novel multi-level marketing (MLM) businesses out of thin air.
In addition to running Eyeline and WealthBoss, Putnam is also the mastermind behind Modern Money Team — another fraudulent venture that claims to help people make money using different altcoin trading avenues.
- As things stand, there currently exist a total of 118 website domains that are registered under Putnam’s name.
- Before venturing into the world of crypto, Putnam ran a number of shady “wellness based companies.”
Talking about Putnam and his nefarious activities, Joseph Rotunda — Director of the Enforcement Division at the Texas State Securities Board — was quoted as saying:
“Investors were turning over their life savings and their retirement, essentially to a ghost. Because USI [didn’t] disclose the names of its principles, investors were turning over their life savings and their retirement, essentially to a ghost. At the same time, the company was promising outrageous rates of return.”
In closing out this piece, it should be highlighted that Putnam has time and again refused to be interviewed by any media outlet to discuss his shady money making activities.
Only time will now tell whether true justice will be served in relation to this case or not.
- Source: First Appeared Here
- Published Time: 2019-05-24 15:10:09
The views and opinions expressed in the article USI Tech Effects Still Linger as WealthBoss Emerges via Dan Putnam and His Questionable Tactics do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research.
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